Indiana Code 23-2.5-1-31. “Real estate brokerage activity”
Current as of: 2023 | Check for updates
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Sec. 31. “Real estate brokerage activity” means offering or providing real estate brokerage services to the public, including the following:
(2) Bringing together parties interested in the sale, lease, or exchange of real property.
(1) Acting as a real estate broker for a buyer, seller, lessor, or lessee of real property.
Terms Used In Indiana Code 23-2.5-1-31
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(3) Negotiating, on behalf of a party, any part of a contract concerning the sale, lease, or exchange of real property, other than in connection with obtaining or providing financing for the transaction.
(4) Engaging in an activity for which the person performing the activity is required to be licensed under IC 25-34.1 or the applicable laws of another state.
(5) Offering to engage in any activity, or to act in any capacity with respect to any activity, described in subdivisions (1) through (4).
As added by P.L.175-2019, SEC.2.